'The economic case for investment is not strong enough': Shell backs out of Cambo oil project

Cecilia Keating
clock • 5 min read
UK oil and gas projects are facing increasing push back from campaigners and economists
Image:

UK oil and gas projects are facing increasing push back from campaigners and economists

Future of controversial North Sea development unclear after minority shareholder Shell backs out citing weak investment case

Shell has backed out of plans to develop the Cambo oil field in the North Sea, in a dramatic decision last night which has been seized on by climate campaigners as heralding a "death blow" for the controversial...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

'Another jump in the new year looks likely': Energy experts react to latest price cap rise

'Another jump in the new year looks likely': Energy experts react to latest price cap rise

Analysts explain how rising bills are being driven by fall out from Iran War, but concerns are growing over forecasts that costs remain high through to 2030

James Murray
clock 26 August 2026 • 9 min read
Study: Fuel poverty funding generated more than £228m in societal benefits in just two years

Study: Fuel poverty funding generated more than £228m in societal benefits in just two years

Every £1 invested in home energy efficiency upgrades has deliver a return of £2.31 in wider societal benefits, study finds

Stuart Stone
clock 26 August 2026 • 4 min read
Ofgem confirms energy bills to rise four per cent to highest level in three years

Ofgem confirms energy bills to rise four per cent to highest level in three years

Conflict in Middle East blamed for latest increase in gas prices, but analysts warn energy costs could remain at high levels through to 2030

James Murray
clock 26 August 2026 • 7 min read